State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_116D > GS_116D-24

§ 116D‑24.  Generalpowers of Board of Governors.

The Board of Governors is authorized, subject to the requirements ofthis Article, to do all of the following:

(1)        Determine the location and character of any specialobligation bond project, to acquire, construct, and provide the project, and tomaintain, repair, and operate and enter into contracts for the management,lease, use, or operation of all or any portion of any special obligation bondproject and any existing facilities.

(2)        Issue special obligation bonds to pay all or any part of thecost of a special obligation bond project, and to fund or refund any bondspreviously issued by the Board of Governors to finance facilities designated asa special obligation bond project.

(3)        Fix and revise from time to time and charge and collectfees, rates, rents, charges, and other income for the use of and for theservices furnished by the institution that are designated as obligatedresources in connection with a special obligation bond issue.

(4)        Establish and enforce, and to agree through any resolutionor trust agreement authorizing or securing bonds under this Article to make andenforce, rules for the use of and services rendered by the institution of theincome or receipts to be obtained from the use or services designated asobligated resources in connection with a special obligation bond issue.

(5)        Acquire, hold, lease, and dispose of real and personalproperty in the exercise of its powers and the performance of its duties and tolease all or any part of a special obligation bond project and any existingfacilities for any periods of years, not exceeding 40 years, upon any terms andconditions as the Board of Governors determines, subject to the provisions ofG.S. 143‑341.

(6)        Employ consulting engineers, attorneys, accountants,construction and financial experts, superintendents, managers, and any otheremployees and agents as may be necessary in its judgment in connection with aspecial obligation bond project and existing facilities, and to fix their compensation.

(7)        Enter into all contracts and agreements necessary orincidental to the performance of its duties and the execution of its powersunder this Article.

(8)        Receive and accept from any federal, State, or other publicagency and any private agency, person, or other entity donations, loans,grants, aid, or contributions of any money, property, labor, or other things ofvalue for a special obligation bond project or any other services provided bythe institution that is designated as the obligated resource in connection witha special obligation bond issue, and to agree to apply and use them inaccordance with the terms and conditions under which they are provided.

(9)        Do all acts and things necessary or convenient to carry outthe powers granted by this Article. (2000‑3, s. 1.2.)